With a buzz created everyday around a new startup in Bengaluru, the IT capital of India has now come to be known as the ‘Startups Dream City’ across the world and has huge demand and business market for project outsourcing.
Here are few best practices first-time outsourcers will find helpful while signing a deal with a Bengaluru-based startup.
1) Market research
The basic practice for every business leader should be to look at market research to filter the best organisation that can cater to her/his company needs and be an outsourcing partner. This is the first step and this analysis is crucial and has to be done right. Failing at market research simply means failing at outsourcing.
2) Customer review
Once market research is successfully executed, you would have a list of startups which would suit your requirement. Make a thorough market analysis of the company’s experience working with other people in your domain.
3) Time zones
Ever since Namma Bengaluru was internationalised, several startups prefer to work on onshore or offshore projects, while a handful take up both. It is always better to choose an outsourcing startup partner who would work in your time zone and not the other way around. Offshore organisations also have to make sure that the outsourced startup is flexible in their working hours.
4) Strength and weakness of the startup
Ideally, the strengths and weaknesses of a startup must be identified in the market research stage. Having said that, the initial analysis should have already narrowed done the options. Identifying the startups' strengths and weaknesses is crucial and will be directly responsible for the success of the project.
It is imperative to hold a meeting to discuss project requirements, specifications, road maps (deadlines if necessary), challenges and mitigations before you finally seal the deal.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory)
- Private equity
- Startup company
- Types of business entity
- Anand Narayanappa